US jobless claims unexpectedly fell last week to 547,000, a pandemic-era low.
Economists had anticipated 610,000 claims. The previous week s sum was revised higher, to 586,000.
Continuing claims slid to 3.67 million for the week that ended on April 10.
Fewer Americans filed for unemployment benefits last week as hiring picked up amid the reopening of the economy.
New US jobless claims reached an unadjusted 547,000 last week, the Labor Department said on Thursday morning. Economists surveyed by Bloomberg had expected a jump to 610,000 claims. The reading marked the second straight decline and placed claims at their lowest level since March 2020.
The previous week s reading was revised slightly higher, to 586,000.
US jobless claims plunged to 576,000 last week, hitting their lowest level of the COVID-19 pandemic.
Economists expected a reading of 700,000 claims. The previous count was revised higher to 769,000.
Continuing claims edged slightly higher to 3.73 million for the week that ended April 3.
The number of Americans applying for unemployment insurance tumbled last week as the labor market s rebound got back on track.
New jobless claims totaled an unadjusted 576,000 last week, according to the Labor Department. That handily beat the median estimate of 700,000 claims from economists surveyed by Bloomberg.
The sum is the lowest since claims first shot higher at the start of the COVID-19 pandemic and ends a two-week streak of gains. The previous week s reading was revised higher to 769,000.
At least, through stock and bond investments.
The generation can expect average annual real returns of just 2% on their investment portfolios, according to Credit Suisse s global investment returns yearbook. That s a third less than the 5%-plus real returns that millennials, Gen X, and baby boomers have seen. Credit Suisse s analysis took in average investment returns since 1900 and forecasted them going forward for Gen Z.
That difference sounds slim in the short-term, but looks a lot larger in the long-term. Imagine a millennial investing $1,000 for 20 years at the 5% return they ve benefited from and a Gen Zer investing the same amount at a 2% return during the same time frame.